US Dollar keeps highs near 99.90 post-US data

The US Dollar Index – which gauges the buck vs. its main rivals – is extending the weekly advance to the 99.85/90, or daily highs.

US Dollar bid on data

The index keeps the upbeat sentiment at the end of the week, trading at shouting distance from the psychological 100.00 handle after US Existing Home Sales have surprised markets to the upside, increasing by 5.71 million units – or 4.4% - during March.

On the not-so-bright side, Markit’s advanced Manufacturing PMI for the month of April came in at 52.8 vs. 53.5 expected and down from February’s 53.3.

USD has managed to revert yesterday’s 3-week lows in the vicinity of 99.30 following a better tone from US yields despite today’s pullback. The 10-year benchmark has receded to sub-2.23% levels after climbing as high as area near 2.26%.

US Dollar relevant levels

The index is up 0.10% at 99.81 and a break above 100.04 (38.2% Fibo of the March drop) would aim for 100.11 (20-day sma) and then 100.61 (55-day sma). On the flip side, the next support aligns at 99.29 (low Apr.20) followed by 98.98 (200-day sma) and finally 98.67 (2017 low Mar.27).

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